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Ingersoll Rand (NYSE:IR) Sets New 12-Month Low on Analyst Downgrade

Thursday, June 23, 2022 | MarketBeat

Shares of Ingersoll Rand Inc. (NYSE:IR - Get Rating) reached a new 52-week low on Thursday after The Goldman Sachs Group lowered their price target on the stock from $58.00 to $50.00. The Goldman Sachs Group currently has a buy rating on the stock. Ingersoll Rand traded as low as $40.90 and last traded at $40.95, with a volume of 7481 shares trading hands. The stock had previously closed at $41.76.

IR has been the subject of a number of other reports. Barclays lowered their target price on shares of Ingersoll Rand from $67.00 to $64.00 and set an "overweight" rating for the company in a research note on Monday, April 4th. StockNews.com assumed coverage on shares of Ingersoll Rand in a research note on Thursday, March 31st. They issued a "hold" rating for the company. Morgan Stanley lowered their price objective on shares of Ingersoll Rand from $56.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Ingersoll Rand from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, April 14th. Finally, TheStreet lowered shares of Ingersoll Rand from a "b-" rating to a "c" rating in a research report on Wednesday, May 4th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.50.


Institutional investors and hedge funds have recently made changes to their positions in the company. Masso Torrence Wealth Management Inc. purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $27,000. Prospera Financial Services Inc purchased a new stake in shares of Ingersoll Rand during the first quarter valued at $27,000. Confluence Wealth Services Inc. purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $32,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Ingersoll Rand by 103.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the industrial products company's stock valued at $27,000 after buying an additional 273 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at $34,000. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market capitalization of $16.60 billion, a PE ratio of 22.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.88 and a quick ratio of 2.22. The business's fifty day moving average price is $45.47 and its two-hundred day moving average price is $51.28.

Ingersoll Rand (NYSE:IR - Get Rating) last posted its earnings results on Wednesday, May 4th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.29 billion. Ingersoll Rand had a net margin of 14.12% and a return on equity of 9.16%. The firm's quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 2.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Friday, May 20th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, May 19th. This represents a $0.08 dividend on an annualized basis and a yield of 0.20%. Ingersoll Rand's dividend payout ratio is presently 4.42%.

About Ingersoll Rand (NYSE:IR)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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